Thank you to The Guernsey Accountants for this information: A Simple Guide to the Coronavirus (‘COVID 19’) Business Support Plan
1. Advise your clients that your business has been ‘paused’ or restricted and not closed.
2. The Coronavirus Payroll Co-funding Scheme will work where you are keeping staff on. The States will fund 80% of employee wages, based on the minimum wage of £8.50 per hour which equates to a gross payment of £238 for a standard 35 hour week, pre Income Tax and States Insurance contributions. Employers must contribute a minimum of 20% to enable the employee to reach the full minimum wage. The initial period of support proposed is 3 months (13 weeks).
3. Where there has been no alternative but to lay off staff then the Hardship fund has been set up for those individuals. The fund will be dealt with by the Social Security Team on 732516 or email firstname.lastname@example.org.
4. There is a one off £3,000 grant to businesses and the self-employed with fewer than 10 employees to assist with the general continuity of the business.
5. Speak to your landlord to find out whether any rents can be deferred. If your business is conducted from or within States of Guernsey land, or a property then they will be considering deferring rents for Quarter 1 and Quarter 2 of 2020.
6. Speak to your bank’s Commercial Business Manager to discuss deferring loans, arranging flexible borrowing or an overdraft facility. Flexible borrowing solutions maybe also available in relation to domestic mortgages. The States are working on a scheme with local clearing banks to provide some support to eligible businesses and once this has been formalised, further details will be released.
7. Speak to your finance company to defer any equipment lease instalments.
8. The States of Guernsey owned and operated utility companies, Waste, Gas, Electricity and Water will consider allowing customers to make alternative payment arrangements without fear of late payment charges or interest or being cut off.
9. There will be support for moorings fees for Commercial Fishermen by suspending fees for vessels in St Peter Port and St Sampson harbours.
10. Tax on Real Property (‘TRP’) The States will ease this financial burden and defer any collection of TRP for the remainder of this year. This covers business rents only and not residential property. If you have already paid your rent, TRP or Social Insurance and want to be considered for financial relief then please email financial. email@example.com with the title “refund”.
11. Deferral of payments for ‘Employer’ social security contributions for both Quarter 1 and Quarter 2. You will still be required to submit your quarterly employer returns by 15th April and 15th July. Email financial. firstname.lastname@example.org with the title “deferral” and the relevant team will be in contact with you as soon as they can.
12. General assistance. Call the dedicated ‘Helpline’ on 743803 and email at business. email@example.com.
Any other assistance, Bruce McNaught on firstname.lastname@example.org